New Addict With Questions

[Anonymous]

Hey,

I am new to the forum here but have been reading around for days. I have a couple questions for you all.

1. I just recived a collections letter from a CA. The account is 2 years old. I was going to try a PFD but wanted to know if I should send it to the CA or the company showing on my credit reports. NCO is reporting the account in collections. If the CA agrees to the PFD will NCO quit reporting it?

2.  I would also like your opinions on getting subprime CC from Orchard. I have a score somewhere around 600 (waiting on two things to come off my reports before I buy another score) with two accts in collections. One is two years old and I am trying the PFD. The other was incorectly reported by an old electric company. They are supposed to be getting me a letter and not sending the acct to collections any longer. I have a Dell Credit card with a high util around 85% which I am trying to pay off a little quicker. OK so my question is should I wait and get these two collections removed and pay off Dell and then apply for some CC or accept the Orchard Card and pay the high annual fees and APR. I am not sure the more expensive fees are worth the boost in points. One random (not fico) simulator predicts 80 points with the addition of a CC w/ 2000 cl. and removing the Collections.

Thanks for your help and any advise you may have is apreciated.

Message Edited by Rockjock on 08-08-2007 11:22 AM

Message Edited by Rockjock on 08-08-2007 01:52 PM

[Anonymous]

OK I reread Tuscani's post on PFD and it seams fine to send the PFD to the CA contacting me even if they are not reporting to the CRA and not the company (NCO Finacial) reporting the collection to the CRA. Please let me know if this correct. I am very excited to get this mailed off. Then again I guess it couldn't hurt to send a PFD directly to the company listed on the CR.

Thanks Again!

Message Edited by Rockjock on 08-08-2007 03:39 PM

[Anonymous]

Before you send anything out try this.

1. Dispute the collection on your report with ea of the CRAs that have it listed.
2. At the same time DV NCO since they are reporting.
3. DV the agency that sent you the letter.

Now here is why. NCO more than likely bought your debt and have another JDB CA trying to collect for them. Since the 2nd JDB isn't reporting on your reports getting anything from them in writing is worthless. You need to get it from NCO and NCO only since they are on your report. Since NCO has farmed out your debt odds are they won't be able to validate and the collection will simply disapper. Now if the debt is valid it probably will reappear sometime in the future but at least when it does you will know who owns the debt and you can go through the DV process again to make sure they can prove to you they are the ones you should be dealing with. Then you can attempt to PFD.

[Anonymous]

OK I will send the DV letters first.

Thank You!

[Anonymous]

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@Anonymous wrote:

OK I will send the DV letters first.

Thank You!

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Good luck! Keep us posted.

[Anonymous]

OK, sorry for all the questions. I just read another post asking almost the same thing and fused111 (sorry to call you out) recomended to skip the DV and disputes with the CRA and just start with the PFD. I am pretty sure the debt is mine, and the TL list the OC. I know NCO is a JDB but what are the chances of them just not Validating a 212.00 debt or not being able to validate if they list the OC on the TL??????

Thanks Again!

[Anonymous]

VERY GOOD.

If you want to pay a debt you believe is yours there is nothing wrong with that. My point to you is that you will not be able to get a PFD from the 2nd JDB because they are not reporting you, NCO is. My advice is not to keep you from paying a valid debt, but simply to give you the best chance to get the collection account removed from your report when you do pay it.

Message Edited by bamf70 on 08-08-2007 05:00 PM

[Anonymous]

Sorry I didn't intend that to be rude. I swear.  I have no doubt you are helping me. I don't want to pay anyone anything I don't owe. I do want to clean up my credit report and increase my credit score. I will try the DV. It obviously can't hurt anything. Then I will send a PFD to NCO if need be. I do want to know if you think sending a DV letter effects your chances of getting a PFD?

Sorry, and Thanks. I am still learning, but reading alot.

[Anonymous]

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@Anonymous wrote:

Sorry I didn't intend that to be rude. I swear. I have no doubt you are helping me. I don't want to pay anyone anything I don't owe. I do want to clean up my credit report and increase my credit score. I will try the DV. It obviously can't hurt anything. Then I will send a PFD to NCO if need be. I do want to know if you think sending a DV letter effects your chances of getting a PFD?

Sorry, and Thanks. I am still learning, but reading alot.

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No need to apologize, your questions are 100% valid. IF NCO can validate, and I doubt they can, then yes your PFD request would still be possible. NCO has a very bad rep and have been sued by many government organizations etc. I personally would have a very hard time believing anything they told me.

[Anonymous]

BAM  I thought NCO was a CA....I know that I read about massive fines from FTC....maybe I have them confused with some other company